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Formjet hope

Software distributor Formjet hopes it will
do much better this year than in 2005
when it slumped into loss. A new sales
director has been appointed and Formjet
should at least move back into profit in 2006.

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Sales of the core Panda security software were flat and the Ability suite of office software generated a fraction of budgeted revenues. Formjet had geared up for much higher sales. Group turnover rose from £2.6m to £3.8m thanks to contributions from new products and the distribution business acquired last July but a £213,000 profit was turned into a £940,000 loss.

A restructuring has reduced annual costs by around £200,000. The first quarter has started well but it is a competitive market. Ability's software competes with Microsoft Office. It is a fraction of the price of Microsoft Office so Formjet is hoping that computer suppliers will install it on their machines. Formjet is also offering a bundled package of Ability and other business software.

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